A grant deed is a legal document that is most commonly used in real estate dealings. The grant deed will allow for the legal transfer of the ownership to title from one party to another. In such case, the parties are defined as the grantor, the party transferring the title, and the grantee, the party receiving the title. When a grant deed is used, it will define that the grantor will be either giving the title or an interest in the property to the grantee, which will carry two particular guarantees.
The first being that the grantor is the proper owner of the property or real estate that is being transferred, and that there are no other parties that have a stake in ownership or interest in such property. The second is that no other party has a legal right to the property, or a lien placed against it. Upon signing the grant deed, the grantor will give up all rights to the property, any vested interest, and ownership.
Though the two guarantees of grant deed will tend to be universally applied, there may be other variations regarding the contents and provisions of a grant deed. An example may be a jurisdictional requirement to have a proper description of the property that is being transferred. Furthermore, the signing of a grant deed may also require that witnesses be present, normally being a notary public. However, most grant deeds will not necessitate notarization in most states.